Many people's impression of mathematics is that it is an ancient edifice built on centuries of research. However, modern quantitative finance, an area of mathematics with such a great impact on all our lives, is just a few decades old. The Isaac Newton Institute quickly recognised its importance and has already run two seminal programmes, in 1995 and 2005, supporting research in the field of mathematical finance.
Few things in nature are as dramatic, and potentially dangerous, as ocean waves. The impact they have on our daily lives extends from shipping to the role they play in driving the global climate. From a theoretical viewpoint water waves pose rich challenges: solutions to the equations that describe fluid motion are elusive, and whether they even exist in the most general case is one of the hardest unanswered questions in mathematics.
When the mathematician AK Erlang first used probability theory to model telephone networks in the early twentieth century he could hardly have imagined that the science he founded would one day help solve a most pressing global
problem: how to wean ourselves off fossil fuels and switch to renewable energy sources.
Artificial neural networks grew out of researchers' attempts to mimick the human brain. In 1997 the Isaac Newton Institute hosted a landmark research programme in the area. Today, neural networks are able to learn how to perform complex tasks and are crucial in many areas of life, from medicine to the Xbox.